Roth IRA Growth Calculator

Our Roth IRA growth calculator provides you a simple way to see how much your Roth IRA will grow based on your contributions and your expected growth rate. For more assistance with the calculator see the help guide below.

Estimated IRA Balance at Retirement
Total Contributions
Total Savings Growth

Age Total Contributions Investment Growth Roth IRA Balance
Roth IRA Calculator Help Guide

This calculator is designed to estimate the balance of an Individual Retirement Account (IRA) at retirement, taking into account various inputs related to retirement savings. Here’s a breakdown of how it works, including the inputs it requires and the outputs it generates:


  • Current Age: The age of the individual using the calculator. This is the starting point for the calculation.
  • Desired Retirement Age: The age at which the individual plans to retire. This determines the duration of the investment period.
  • Annual Contributions: The amount of money the individual plans to contribute to their IRA each year.
  • Starting Balance: The initial amount already saved in the IRA.
  • Annual Catch-Up Contributions: Additional contributions allowed for individuals aged 50 and above, over and above the standard annual contributions.
  • Expected Return Rate: The annual rate of return expected on the IRA investments, expressed as a percentage.


  • The calculator operates by iterating each year from the current age to the retirement age.
  • For each year, regular annual contributions are added to the IRA balance.
  • Once the individual reaches 50 years old, additional catch-up contributions are also added.
  • The IRA balance is then increased based on the expected rate of return.
  • Error handling is included to ensure the input values are reasonable and within legal limits (e.g., contribution limits).


  1. Estimated IRA Balance at Retirement: This is the projected total amount in the IRA at the desired retirement age, based on the inputs provided. It accounts for yearly contributions and the compounding effect of the expected return rate.
  2. Total Contributions: The total amount of money contributed to the IRA during the investment period. This includes both annual contributions and any catch-up contributions (if applicable).
  3. Total Savings Growth: This represents the growth of the investment over the period, calculated as the difference between the estimated IRA balance at retirement and the total contributions.

Additional Features:

  • The calculator provides an interactive line chart showing the growth of the IRA balance year by year.
  • Error messages are displayed if the inputs do not meet certain criteria, such as current age being less than retirement age, or contributions exceeding legal limits.
Roth IRA Income and Contribution Limits

2023 Roth IRA Income and Contribution Limits

Contribution Limits

  • The maximum contribution for individuals under age 50 was $6,500.
  • For those aged 50 and over, the limit was $7,500, which included a $1,000 catch-up contribution.

Income Limits

  • For single filers, the phase-out range was between $138,000 and $153,000 Modified Adjusted Gross Income (MAGI).
  • For married couples filing jointly, the phase-out range was between $218,000 and $228,000 MAGI.
  • For married individuals filing separately, the phase-out range was between $0 and $10,000 MAGI.

2024 Roth IRA Income and Contribution Limits

Contribution Limits

  • For individuals under the age of 50, the contribution limit is $7,000.
  • For those aged 50 and over, the limit is $8,000, which includes a catch-up contribution.

Income Limits

  • For single filers, the phase-out range for contributions starts at a Modified Adjusted Gross Income (MAGI) of $146,000 and ends at $161,000.
  • For married couples filing jointly, the phase-out range starts at a MAGI of $230,000 and ends at $240,000
What you need to know about Roth IRAs

A Roth IRA (Individual Retirement Account) is a type of retirement savings account in the United States that offers certain tax advantages. Here are some key things to know about Roth IRAs:

  • Post-Tax Contributions: Unlike a traditional IRA, contributions to a Roth IRA are made with after-tax dollars. This means you pay taxes on the money before it goes into your account.
  • Tax-Free Withdrawals: One of the major benefits of a Roth IRA is that you can withdraw your contributions and earnings tax-free, as long as certain conditions are met. Typically, this includes being at least 59½ years old and having held the account for at least five years.
  • No Required Minimum Distributions (RMDs): Roth IRAs do not require you to start taking minimum distributions at a certain age, unlike traditional IRAs. This feature makes them a popular choice for estate planning, as they can be passed on to heirs.
  • Income Limits: There are income limits for contributing to a Roth IRA. If your income exceeds a certain level, you may be partially or completely phased out of being able to contribute.
  • Contribution Limits: There are annual limits to how much you can contribute to a Roth IRA. These limits are periodically adjusted for inflation.
  • Flexibility in Withdrawals: You can withdraw your contributions (but not your earnings) from a Roth IRA at any time without penalty. This is not the case with traditional IRAs, where early withdrawals generally incur penalties.
  • Investment Options: The funds in a Roth IRA can be invested in a variety of assets, such as stocks, bonds, mutual funds, and ETFs, depending on the offerings of the IRA custodian.
  • Conversion Options: It’s possible to convert a traditional IRA to a Roth IRA, though this involves paying taxes on the converted amount in the year of the conversion.
  • Estate Planning Benefits: Since Roth IRAs do not require RMDs and the distributions to heirs are generally tax-free, they are often used as an estate planning tool.
  • No Age Limit for Contributions: Unlike traditional IRAs, you can contribute to a Roth IRA at any age, as long as you have earned income.

Roth IRAs are an important tool for retirement planning, offering unique benefits, especially when it comes to tax planning and flexibility in withdrawals.